Who doesn’t love shopping? There are those times when you go have to go window shopping just because your wallet doesn’t permit you to do more than that. The answer to your shopping problems —a credit card! Everyone needs help sometimes in the form of credit to buy something that their heart desires. It’s now possible with a little bit of help from your plastic friend. Welcome to the world of credit cards!
Banks and credit card firms have now come up with credit cards that especially cater to those with extravagant shopping needs! Increasing income levels of the average Indian, changing lifestyle habits and needs has spawned the culture of credit cards in India.
Nowadays, you have a wide variety of shopping cards to choose from, given the level of competition between credit card issuers. There are many advantages to owning a credit card today. It helps you with building a positive credit history provided you pay your bills on time, every month. It has the advantage of convenient payment options, and gives you access to a world of discounts and rewards amongst other things.
Shopping Credit Cards are specialized credit cards that offer numerous features that rewards you every time you shop. It comes with a rewards or cashback program specially designed to reward the user with accelerated points every time he/she uses the credit card for shopping transactions like apparel shopping, grocery and supermarket spends. In effect, you are being rewarded for shopping. The credit card issuer pays you back in the form of points which can be redeemed at multiple outlets.
Similar to any other credit card, Credit Cards intended for shopping purposes offer reward points. The reward points program differs according to the bank that issues it. It is based on the amount that you spend using your credit card. For example, with the Citibank Rewards Credit Card, you get 1 reward point on every Rs. 125 spent, and 10 X Reward Points on spends at apparel and department stores. You can redeem these points through their customer loyalty program and across 600 shopping outlets across the country. HDFC MoneyBack credit card gives you cashback advantages across all spending categories, i.e. 100 Reward Points = Rs 40. Power of shopping, unleashed!
The Solitaire Credit card from HDFC is especially designed for women and their shopping needs. Get gift vouchers worth 1000 every 6 months from Shoppers Stop upon crossing a certain spending limit.
Swiping your RBL Bank Platinum Delight Credit Card for your shopping needs earns you 2 Reward Points on every Rs. 100 spent, which you can later redeem for exciting gifts.
The number of reward points per spend varies with each card issuer.
A shopping credit card is packed with benefits in the form of shopping discounts, accelerated rewards points on certain spends, cashback features and specialized insurance cover. In order to avail of some of the specific benefits, you need to use the card within first 30 days of credit card activation and spend a pre-fixed amount on your credit card.
When you look for a credit card for shopping needs, you must look at the following criteria:
The features and benefits of a Shopping Credit Card are designed to award various perks for the frequent shopper. Those looking to enhance their shopping experience can opt for a Shopping Credit Card.
The offers along with the attractive rebates that a Shopping Credit Card offers makes it a desirable option, provided that all credit card dues are paid consistently every month.
To apply for a Shopping Credit Card, you can either walk into your chosen lender’s nearest branch and submit the application along with the required documentation, or you can apply online. You can also call their customer care for help with the application process. Typically, it takes up to 21 days for your credit card application to be processed.
There are a wide range of cards available in the market today and it can be daunting to decide which one is the best for you. If you think you need help with your credit card application and advice on eligibility, CreditMantri can guide you through the entire process and match you with the credit card that suits your needs the best.
Note: The cards mentioned in the article are merely indicative of the kinds of rewards and benefits on offer, and you will need to choose your card based on your specific requirements.